Important Topic in Class 11 Accountancy Chapter 11

Accountancy is an interesting subject for the students having an inclination towards calculations and accounts management. Students who want to pursue their career in the field of any financial sector choose commerce as the core subject from class 11.

 These are the students who decide to make their career in the field of finance which is very important for trading activity and business organizations.  As it is said the backbone of any company is the Account department students have to be well versed in every topic of accountancy as their career will depend on their caliber and accounting accuracy.

Accountancy has its importance not only for those who will be an accountant in the future but also in daily life. Basic accounting is very important to manage financial related issues in a regular lifestyle. 

Class 11 Accountancy is the introduction of important subject topics and students have to be well versed from the beginning so that they can be clear with the fundamentals and the basics concepts in Accountancy.

The chapters in class 11 Accountancy are 15.

They are as below.

1. Introduction to Accounting.
2. Theory Base of Accounting.
3. Recording of Transactions-I.
4. Recording of Transactions-II.
5. Bank Reconciliation Statements.
6. Trial Balance and Rectification of Errors.
7. Depreciation, Provisions, and Reserves.
8. Bil lof Exchange.
9. Financial Statements -1
10. Financial Statements.
11. Accounts from Incomplete Records.
12. Applications of computers in  Accounting.
13. Computerized Accounting System.
14. Structure Database for Accounting.
15. Accounting System using Database management System.

All these chapters are very important and have to be appropriately grasped with accuracy and focus. But there are also some important chapters amongst these which needs to be focussed more as the maximum number of questions would be asked from these topics like Introduction to Accounting, Recording of Transactions-I, Recording of Transactions-II, Bank Reconciliation Statements, Trial Balance, and Rectification of Errors, Depreciation, Provisions, and Reserves, Theory Base of Accounting, Bil lof Exchange, Financial Statements -1, Financial Statements, Accounts from Incomplete Records, Applications of computers in  Accounting,  Computerised Accounting System and so on.

Class 11 chapter 11 which is Accounts from Incomplete records has more of the data of all the concepts which is comprehensively learned very well through the DK Goel Solutions Class 11 Accountancy Chapter 11 and includes the topics that can be easily comprehended by the students for the exam preparation.

Contents of the chapter.

Several accounting entries are in the books of original and the economic activities are in the general ledger.

The purpose of this chapter is to give an idea about the usage of the entry in many business establishments and also to give detailed theoretical concepts to the students.

The advantages of the Book of the originals.

1. The calculation mistakes are minimized.
2. The details are accurate.
3. These can also be called journals.

In this chapter, students will understand and learn the difference between the record and the cashbook and also the credit and the debit. These are the basics of accountancy.  

Vedantu has made it very easy with the best study materials to be expertise in the chapter giving the details of the topics. The chapter-wise notes will help the students to make their preparation in a very comprehensive way saving much of their time.

 Advantages of preparing through Vedantu for class 11 Accountancy chapter 11.

1. The solutions are well prepared by experts.
2. The revision notes are well organized.
3. The practice exercise can be helpful for thorough preparation.
4. It saves lots of time.
5. The solutions are updated as per the CBSE curriculum.

Study tips for class 11 Accountancy.

Study timetable.

Make a well-planned timetable and follow it regularly. Know your strengths and weakness so you can devote the time according to the topics requiring more time.

Books.

Don’t accumulate too many books and start reading. This will not help you but just creates confusion and you will not remember any topic properly. The NCERT textbook is very good to have a thorough preparation along with that for the reference book you can go through D.K Goel Solutions where all the topics are very precisely given. Most of the questions in the exam are based on the NCERT books.

Definitions.

Definitions should be understood and learned. Know the logic behind each so that you will get a clear concept of the terms defined. Definitions have to be memorized but make sure you understand them before memorizing.

Features and the benefits.

 There will be questions asked about the features and the benefits of the different topics. You should answer in a very relevant way so it fetches you the right marks. Just don’t memorize but also practice writing. This will help you to develop speed and accuracy. Sometimes you might be very good at answering verbally but when it comes to writing you might not be.  To avoid such things happening practice writing while you learn.

Formulas 

Formulas have to be memorized but you should also know how it has been derived. Note down all the relevant formulas in a book.  You can revise every day so in a few days’ time, the formulas will be at your fingertips.

Calculations.

Accountancy means full of calculations. So make sure to practice so that the silly mistakes are avoided which usually occurs during calculations.

Preparation of notes.

Prepare systematic notes so that while revising it becomes easy and you can glance at all the topics in a short duration. This will make you remember what you previously studied and boost your confidence.

Previous year papers and the mock test.

Once you are thorough with all the chapters you can start solving the previous years’ question paper which will help you in time management skills and speed accuracy. This is an important aspect from the examination point of view.

General tips.

1. Plan an appropriate timetable.
2. Follow it regularly and systematically.
3. Be regular in your studies.
4. Understand the concept well.
5. Avoid silly mistakes during calculations.
6. Be positive and learn what you do not know. Don’t give up.